Alphatec (NASDAQ:ATEC) Given Buy Rating at Needham & Company LLC

Alphatec (NASDAQ:ATEC)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report released on Thursday, Benzinga reports. They presently have a $13.00 target price on the medical technology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 131.32% from the company’s previous close.

ATEC has been the subject of a number of other reports. Lake Street Capital reduced their target price on shares of Alphatec from $32.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Morgan Stanley lowered Alphatec from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Wells Fargo & Company lowered their target price on Alphatec from $26.00 to $19.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Piper Sandler cut their price target on Alphatec from $17.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Alphatec in a research note on Friday, August 30th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Alphatec Trading Up 3.7 %

NASDAQ:ATEC opened at $5.62 on Thursday. The company has a 50 day simple moving average of $5.73 and a two-hundred day simple moving average of $8.71. The company has a market cap of $789.39 million, a PE ratio of -4.16 and a beta of 1.39. The company has a current ratio of 2.22, a quick ratio of 1.21 and a debt-to-equity ratio of 30.21. Alphatec has a 12 month low of $4.88 and a 12 month high of $17.34.

Alphatec (NASDAQ:ATEC) last posted its quarterly earnings data on Wednesday, October 30th. The medical technology company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The firm had revenue of $150.72 million for the quarter, compared to analysts’ expectations of $147.50 million. Alphatec had a negative net margin of 33.48% and a negative return on equity of 816.57%. Research analysts forecast that Alphatec will post -1.08 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David M. Demski acquired 50,000 shares of Alphatec stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $5.67 per share, for a total transaction of $283,500.00. Following the completion of the transaction, the director now directly owns 288,441 shares in the company, valued at approximately $1,635,460.47. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphatec

Hedge funds have recently modified their holdings of the company. Net Worth Advisory Group bought a new stake in Alphatec in the third quarter worth $76,000. Comerica Bank raised its position in shares of Alphatec by 64.8% during the 1st quarter. Comerica Bank now owns 6,443 shares of the medical technology company’s stock valued at $89,000 after buying an additional 2,534 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Alphatec by 57.0% during the 3rd quarter. Van ECK Associates Corp now owns 19,273 shares of the medical technology company’s stock valued at $99,000 after buying an additional 6,998 shares in the last quarter. Tempus Wealth Planning LLC bought a new position in shares of Alphatec in the 3rd quarter valued at about $107,000. Finally, Stephens Inc. AR grew its position in Alphatec by 51.4% in the third quarter. Stephens Inc. AR now owns 21,743 shares of the medical technology company’s stock worth $121,000 after acquiring an additional 7,382 shares in the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

Alphatec Company Profile

Alphatec Holdings, Inc, a medical technology company, designs, develops, and advances technologies for the surgical treatment of spinal disorders in the United States and internationally. It manufactures and sells implants and instruments through third-party suppliers. The company offers Alpha InformatiX product platform, including EOS imaging system that provides full-body imaging; VEA alignment mobile application, which leverages EOS technology to more quickly quantify alignment parameters on a mobile device; SafeOp Neural InformatiX System that automates electromyographic and somatosensory evoked potential monitoring; and Valence, an intra-operative system that integrates navigation and robotics into spine procedures, as well as Sigma Prone TransPsoas (PTP) Access and PTP Patient Positioning Systems.